Despite grim outlook, all is not lost for market bulls

US stocks rose, following their biggest gains since 2011, amid a relief rally throughout global markets and as data showed the economy grew more than previously estimated.

PHOTO: REUTERS

LAST week, major stock indexes had their biggest declines since 2011 and the Dow Jones Industrial Average finished in official correction territory, more than 10 per cent from its May record high amid fears that another global recession is at hand.